Qld parents could be asked to pay higher fees as a result of changes to the private school funding model, despite the sector’s strong asset base.
The value of assets at Queensland’s elite grammar schools has surged to almost $1 billion – a bump of $75 million in one year.
Brisbane Grammar School – which charged high school students a hefty $29,000 annual fee – listed assets of $269 million last year, and the inner-city school’s campus, spanning Spring Hill and Normanby, was given a value of $30.3 million – up from $24 million a year earlier. Brisbane Grammar posted an $819,000 operating surplus, which was described in its annual report as “good financial practice”, to give confidence that independent schools were financially viable and responsibly managed.
As a result, the central Queensland school raised its fees by 4.75 per cent in 2022 and 6.25 per cent in 2023. Fees increased to $12,200 per year for high school.
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